Backpack recently launched GoPro and AMC in succession, and I’m actually more interested in seeing how this develops going forward.

Products of this kind are no longer simply “tracking U.S. stock prices.” The $AMC issued by Backpack Securities corresponds to real AMC shares, can be traded on-chain 24/7, and can also be redeemed for traditional shares on a 1:1 basis.
This shifts the question from whether stocks can be brought on-chain to whether on-chain stocks can genuinely connect with the traditional financial system—the latter is clearly much more difficult.
To truly achieve this, the process involves not only blockchain technology, but also the coordination of securities issuance, custody, redemption, compliance, and traditional brokerages.
That is also why I think Backpack’s current direction is worth watching.
It has not recently launched just one conceptual product; instead, it has continued adding different types of U.S. stock assets. From $MRVL and $LLY to $GPRO and $AMC, the product lineup is gradually expanding.
Of course, it is still too early to talk about bringing all U.S. stocks on-chain. What really needs to be tested is liquidity and user demand.
But at least in terms of product form, stocks are beginning to genuinely gain the liquidity mechanisms of on-chain assets, which is more worth studying than simply adding another trading venue.